Amazon Payments vs. WePay: Which one should you choose?
If you're running an e-commerce store, you know how important it is to offer a variety of payment options to your customers. The easier it is to pay, the more likely customers are to complete their purchases. That's why choosing the right payment processing technology is crucial. In this post, we'll take a look at two popular payment solutions: Amazon Payments and WePay.
Amazon Payments
Amazon Payments is a payment processing service that allows customers to use their Amazon account to make purchases on your website. With Amazon Payments, customers can pay with their existing Amazon account, which means they don't have to create a new account or re-enter their payment and shipping information.
One of the benefits of Amazon Payments is that it offers a fraud detection and prevention system, which can help you identify and prevent fraudulent transactions.
Amazon Payments charges a processing fee of 2.9% + $0.30 per transaction for U.S. customers. For international transactions, the fee is 3.9% + $0.30.
WePay
WePay is a payment processing technology that offers a variety of payment options, including credit and debit cards, ACH bank transfers, and eChecks. WePay also offers fraud detection and prevention tools, as well as chargeback protection for merchants.
One of the standout features of WePay is its ability to integrate with a variety of platforms, including online marketplaces, crowdfunding sites, and event management platforms.
WePay charges a processing fee of 2.9% + $0.30 per transaction for U.S. customers. For international transactions, the fee is 3.5% + $0.30.
Comparison
Both Amazon Payments and WePay offer similar rates and fraud protection tools. However, Amazon Payments is limited to customers with an Amazon account, while WePay offers a broader range of payment options.
For merchants who are looking for a payment processing option that is easy to integrate with a variety of platforms, WePay may be the better choice. However, if you're targeting a customer base that is likely to have an Amazon account, Amazon Payments may be the more convenient option for your customers.
| Criteria | Amazon Payments | WePay |
|---|---|---|
| Payment options | Amazon account | Credit/debit cards, ACH bank transfers, eChecks |
| Fraud prevention | Yes | Yes |
| Integration options | Limited | Wide |
| Processing fee | 2.9% + $0.30 | 2.9% + $0.30 (U.S.), 3.5% + $0.30 (international) |